Tuesday Market Wrap

{+++} Netflix had a decent day and some of our small biotechs hung in well and edged slightly higher.

The big story was Apple though. The company reported earnings. They slightly beat the consensus estimate and actually traded up about 30 points in the after market. However, the stock gave up the entire gain and is actually trading below its closing price. Terribly bearish action if you ask me.  My recommendation is to avoid for now. Picking a bottom on a broken stock can be a fools errand. The stock seems to have found a home at about 405 right now.

It’s been an exciting couple of days, so I’d prefer to babysit what we have for a day or two until something sets up.

Have a great night.





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